The $19.7 billion-asset company earned $37.2 million in the second quarter, or 23% more than a year earlier. Earnings per share were 80 cents, or 6 cents higher than an estimate of analysts polled by Bloomberg.

The results were skewed by UMB's acquisition of the $1.2 billion-asset Marquette Financial, which closed in May 2015. The deal bolstered the company's commercial real estate and asset-based lending books in particular.

Overall, loans increased 13% to $10.1 billion. Net interest income rose 24% to $121 million due in part to higher-yielding loans from the Marquette deal. The net interest margin expanded 27 basis points to 2.86%.

The company's previous CFO, Brian Walker, resigned during the shake-up but remained with the company as chief accounting officer.

Shankar previously worked as a managing director at First Niagara Financial Group, the $40 billion-asset company in Buffalo, N.Y., that is in the process of selling itself to the $96 billion-asset KeyCorp in Cleveland.

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